Tri Pointe Homes (NYSE:TPH) Hits New 12-Month High – Time to Buy?

Tri Pointe Homes Inc. (NYSE:TPH)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $46.67 and last traded at $46.6260, with a volume of 1121500 shares traded. The stock had previously closed at $46.39.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TPH. Citigroup started coverage on Tri Pointe Homes in a research note on Wednesday, January 7th. They issued an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a report on Tuesday, January 27th. Royal Bank Of Canada raised their target price on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Oppenheimer downgraded Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Finally, Citizens Jmp initiated coverage on Tri Pointe Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Hold” and a consensus target price of $42.50.

Tri Pointe Homes Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.38 and a beta of 1.34. The company’s 50 day simple moving average is $40.03 and its 200 day simple moving average is $35.50.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $972.63 million for the quarter, compared to the consensus estimate of $917.86 million. Tri Pointe Homes had a return on equity of 7.96% and a net margin of 7.09%.The business’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. On average, equities research analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Insider Buying and Selling

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $46.33, for a total value of $2,316,500.00. Following the completion of the transaction, the director owned 30,330 shares of the company’s stock, valued at $1,405,188.90. This represents a 62.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Tri Pointe Homes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lido Advisors LLC boosted its stake in Tri Pointe Homes by 3.5% during the 4th quarter. Lido Advisors LLC now owns 9,751 shares of the construction company’s stock worth $326,000 after acquiring an additional 327 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Tri Pointe Homes by 45.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the construction company’s stock worth $38,000 after acquiring an additional 345 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Tri Pointe Homes by 29.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,615 shares of the construction company’s stock valued at $51,000 after buying an additional 367 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Tri Pointe Homes by 0.6% during the 3rd quarter. Federated Hermes Inc. now owns 63,082 shares of the construction company’s stock worth $2,143,000 after buying an additional 373 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in Tri Pointe Homes by 3.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 10,507 shares of the construction company’s stock worth $331,000 after acquiring an additional 394 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.